Duration and Amendments. (a) Term of the Plan. The Plan shall become effective upon its approval by the Company’s stockholders. The Plan shall terminate on the 10th anniversary of the Effective Date and may be terminated on any earlier date pursuant to this Section 14. (b) Right to Amend or Terminate the Plan. The Board may amend or terminate the Plan at any time and for any reason. Any such termination of the Plan, or any amendment thereof, shall not impair any Award previously granted under the Plan. No Awards shall be granted under the Plan after the Plan’s termination. An amendment of the Plan shall be subject to the approval of the Company’s stockholders only to the extent such approval is required by applicable laws, regulations or rules. In addition to the other terms and conditions of the Plan, the terms set forth in this Addendum A shall apply to Awards issued to Participants that are U.K. taxpayers. All capitalized terms used herein but not otherwise defined shall have the respective meanings set forth in the Plan.
Appears in 2 contracts
Sources: Equity Incentive Plan (Global Ship Lease, Inc.), Equity Incentive Plan (GSL Holdings, Inc.)